The management of GAME have been told to prepare for administration, it has been revealed, CEO Ian Shepherd, earlier this week told senior staff that the retail group, which includes GAME and GameStation, has two weeks to save itself, according to MCV. There are still hopes that a buyer, such [...]
Ground-breaking community project and social enterprise The People’s Supermarket is faced with closure within the week unless payments can be renegotiated with one of its creditors. Members of The People’s Supermarket are asking Camden Council to enter into further negotiations on their business rate debts, considering the alternative nature of [...]
Walmart, the retail behemouth that owns ASDA in the UK, has announced plans to take a 51 per cent stake in Yihaodian, a popular Chinese e-commerce website. Yihadian launched in 2008 and stocks over 150,000 grocery, clothing and electrical goods, being somewhat of a ‘Chinese Amazon’. Walmart, like many other retailers, [...]
Anders Dahlvig, former IKEA chief executive, said that the retailer has become too large and should be broken up. Mr Dahlvig, currently holds posts as a non-executive director at both Kingfisher and H&M, says IKEA faces significant slowing growth and rising costs. He argued that the chain should be split [...]
The West End is expecting the Olympics to increase sales by 3.5 per cent this year. The area’s “high-profile retail reputation” should help it outperform the rest of Britain, according to Verdict’s Maureen Hinton. Retail sales could soar by as much 3.5 percent in 2012 thanks to the Olympic Games [...]
Goods bought via smartphone are likely to become an increasingly crucial part of the retail landscape, according to the UK retail director of eBay. Angus McCarey told Econsultancy that ten per cent of eBay’s UK sales had came over mobile devices this year, indicating consumers comfort with using mobile for [...]
British Land has submitted plans to carry out a 100,000 sq ft extension to the Surrey Quays shopping centre in south east London. The company owns the centre on the Rotherhithe Peninsula in a joint venture with Tesco. British Land are proposing a new 10,600m² extension to the existing Surrey [...]
UK eCommerce companies are likely to see an increase in business as consumers turn to online shopping to find a bargain, noted an economic adviser to PricewaterhouseCoopers. Dr Andrew Spence told Declan Curry in a BBC ‘On The Money’ podcast about the retail sector that he considered commerce to be [...]
Peacocks, the discount retailer had been struggling to renegotiate it’s debt for some time, RBS one of it’s creditors was unable to come to an agreement over the restructure of debt, leaving the management with no choice but to enter administration. Although the business was able to turn a profit [...]
Update 16:45 2011/01/18: It has been confirmed that Peacocks are to enter administration, their staff at the Cardiff office have been informed, dire times indeed. The future for Peacocks looks grim. One of the largest companies in Wales, Peacocks saw large and rapid expansion over the last decade and all [...]